https://www.taxtmi.com/caselaws?id=62840 The Tribunal allowed the appeal, directing the exclusion of Rs. 20,662 from the total income of the assessee for the assessment year 1977-78. It held that the seized gold, not recorded in the books of account, should be considered income for the financial year 1975-76 under section 69A of the Income Tax Act, 1961, and not for the assessment year in question. The Tribunal found that the provisions of section 69A applied, leading to the reversal of the addition made by the CIT (A)III. en-us Fri, 27 Jan 1989 00:00:00 +0530 Sat, 22 Jan 2011 11:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62840 The Tribunal allowed the appeal, directing the exclusion of Rs. 20,662 from the total income of the assessee for the assessment year 1977-78. It held that the seized gold, not recorded in the books of account, should be considered income for the financial year 1975-76 under section 69A of the Income Tax Act, 1961, and not for the assessment year in question. The Tribunal found that the provisions of section 69A applied, leading to the reversal of the addition made by the CIT (A)III. Case-Laws Income Tax Fri, 27 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62840